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Financial News: Europe Passenger Car Sales Decline In February

Europe Passenger Car Sales Decline In February

03/18/2020 - 03:18:00 (RTTNews)

(RTTNews) - Europe's passenger car sales declined in February largely due to changes in vehicle taxation in EU member countries, weakening global economic situation and consumer uncertainty, data from the European Automobile Manufacturers' Association, or ACEA, showed Wednesday.

Passenger car sales decreased 7.4 percent year-on-year to 957,052 units in February. Sales were down 7.5 percent in January.

Among member states, Germany logged the biggest fall of 10.8 percent in February, followed by an 8.8 percent decrease in Italy and a 6 percent drop in Spain. France's passenger car registrations declined 2.7 percent.

From January to February, total registrations of new cars in the European Union were 7.4 percent lower than in the same period the year before. So far in 2020, each of the four major EU markets faced falling demand.

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